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प्रश्न
Explain the following Term/Concept.
Transmission of Shares
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उत्तर
(1) Transmission of shares refers to the transferor passing of property or titles in shares by the operation of law from a member to his legal representatives. Such an automatic transfer of shares takes place in the event of death, insolvency, and insanity of a shareholder.
(2) When the transmission of shares takes place, the membership of the original shareholder is terminated. The heir or legal representative in the case of death, the official receiver in the case Of insolvency and administrator in the case of Insanity becomes the member of the company in the Place of original shareholder or member.
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संबंधित प्रश्न
Select the correct answer from the options given below and rewrite the statement:
When a person buys shares of a company by filling up an application form, the person becomes a member by _________.
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Insane person | 1) Transfer of shares by operation of law |
| b) Foreigner | 2) Cannot be a member |
| c) Transmission of shares | 3) Cessation of membership |
| d) Surrender of shares | 4) To get copies of Auditor’s, Directors’ Report, etc. |
| e) Right of Members | 5) Can be a Member |
| 6) To attend a board meeting | |
| 7) Duties of member | |
| 8) Surrendering all assets to the company | |
| 9) Demand or claim money from the company | |
| 10) Transfer of shares by order of Secretary |
Write a word or a term or a phrase which can substitute the following statement:
End of membership of a person.
Write a word or a term or a phrase which can substitute the following statement:
Book in which names of all members are entered.
State whether the following statement is True or False:
Buying shares is the most common way to become a Member of the company.
State whether the following statement is True or False:
Legal competency to enter into contracts is one of the criteria to become a member of the company.
State whether the following statement is True or False:
Members of the company can attend general and Board meetings of the company.
State whether the following statement is True or False:
Minor can be the member of the company
State whether the following statement is True or False:
Member is entitled to profits of the company when a dividend is declared.
Complete the sentence:
In case of death or insolvency of a member, he will cease to be a __________
Select the correct option form the bracket.
| Group A | Group B |
| Minor | ___________ |
Select the correct option form the bracket.
| Group A | Group B |
| ___________ | Can hold shares in the name of partners |
Correct the underlined word and rewrite the following sentence:
A Minor can be a member of a company.
Correct the underlined word and rewrite the following sentence:
Partnership Firm can be a member of a company.
Justify the following statement.
A Foreigner can invest in shares of an Indian company.
Justify the following statement.
Insolvent person ceases to be the Member of the company.
Justify the following statement.
Nominee of the member of OPC becomes its member of the death of the member.
Answer the following question:
Explain the circumstances when Member is not a shareholder and vice-versa.
